Acetonitrile is a polar, organic, and colorless liquid with aromatic odor and produced mainly as a byproduct during the manufacture of acrylonitrile. It is mainly used as a solvent in the purification of butadiene in refineries, pharmaceuticals, casting & molding of plastic materials, perfume production, extraction of fatty acids from animal & vegetable oil, and others.
Acetonitrile finds major application as a key solvent in the manufacture of antibiotics owing to favorable physical and chemical properties such as low freezing/boiling point and low viscosity. It is also regarded as safer than other major solvents such as dichloromethane, due to low toxicity levels. The rapidly expanding pharmaceutical industry is expected to create growth opportunities for players operating in the acetonitrile market over the forecast period. According to International Trade Association, the global pharmaceutical market was valued at US$ 1 trillion in 2015, and is expected to increase to US$ 1.3 trillion by 2020.
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Acute inhalation or contact with acetonitrile can cause eye, skin, or respiratory irritation. It is also flammable due to having a low flash point. Such handling issues prevent the extensive use of acetonitrile, which can hinder growth of the market over the forecast period.
Asia Pacific held a dominant position in the global acetonitrile market as a result of the growing pharmaceutical and chemical industries in the region. For instance, according to International Trade Association, China was the second biggest pharmaceutical market in 2015, with a value of US$ 108 billion, which is expected to increase to US$ 167 billion by 2020.
Key Players in the Global Acetonitrile Market:-
Key players operating in the global acetonitrile market include Merck KGaA, BASF SE, INEOS Nitriles Limited, Asahi Kasei Corporation, Mitsubishi Chemical Corporation, The Chemical Company, Fisher Scientific UK Ltd, Imperial Chemical Corporation, Avantor Inc., and Nova Molecular Technologies.
Key players in the market are focusing on adopting various organic and inorganic growth strategies, in order to enhance their production capacity. For instance, in May 2018, Balaji Amines Ltd. announced plans to expand the company’s annual acetonitrile production capacity from 10,000 MT to 30,000 MT in the following year.
On the basis of type, the global acetonitrile market is segmented into:
On the basis of application, the global acetonitrile market is segmented into:
• Organic Synthesis
• Specialty Solvents
• DNA & RNA Synthesis
On the basis of region, the global acetonitrile market is segmented into:
• Asia Pacific
• North America
• South America
• Middle East and Africa
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